The government in its budget last month announced a fiscal deficit target of 3.3 percent of the gross domestic product for 2018/19 fiscal year starting April, higher than its previous target of 3.0 percent.

Government is "committed" to bringing down fiscal deficit in the medium term, a finance ministry official told Reuters on Wednesday.

The government in its budget last month announced a fiscal deficit target of 3.3 percent of the gross domestic product for 2018/19 fiscal year starting April, higher than its previous target of 3.0 percent.

Besides, the government also expects Asia's third largest economy to grow at 8 percent in the next couple of years, the official said.